Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Kovack Advisors Inc.

Kovack Advisors Inc. lifted its holdings in Quanta Services, Inc. (NYSE:PWR) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,679 shares of the construction company’s stock after acquiring an additional 86 shares during the period. Kovack Advisors Inc.’s holdings in Quanta Services were worth $1,657,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Grove Bank & Trust boosted its stake in Quanta Services by 75.6% during the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock valued at $30,000 after acquiring an additional 68 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its stake in Quanta Services by 47.3% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after acquiring an additional 52 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Quanta Services in the 3rd quarter worth about $36,000. Valley National Advisers Inc. bought a new position in shares of Quanta Services in the 4th quarter worth about $41,000. Finally, Planned Solutions Inc. bought a new position in shares of Quanta Services in the 4th quarter worth about $43,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of PWR traded up $6.47 during mid-day trading on Friday, hitting $261.66. The company’s stock had a trading volume of 1,180,022 shares, compared to its average volume of 783,667. The firm has a 50-day moving average price of $246.91 and a 200 day moving average price of $211.63. The stock has a market capitalization of $38.30 billion, a price-to-earnings ratio of 52.25 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $265.82.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the company posted $1.54 earnings per share. The business’s revenue for the quarter was up 31.0% on a year-over-year basis. On average, research analysts predict that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services’s payout ratio is 7.19%.

Insiders Place Their Bets

In related news, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the transaction, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Worthing Jackman sold 9,572 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total value of $2,271,531.32. Following the completion of the sale, the director now directly owns 7,486 shares in the company, valued at $1,776,502.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the transaction, the executive vice president now owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The disclosure for this sale can be found here. Insiders sold a total of 47,125 shares of company stock worth $11,270,215 over the last ninety days. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PWR has been the topic of a number of recent research reports. DA Davidson raised their price target on shares of Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Citigroup increased their price objective on shares of Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Stifel Nicolaus increased their price objective on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. TD Cowen increased their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Finally, Truist Financial initiated coverage on shares of Quanta Services in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and a consensus price target of $247.67.

Quanta Services Company Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company's Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.